I have a question that I haven't been able to find an answer to, even after searching extensively in this forum.
I'm building a simple rotation strategy:
1. I'm buying the five Nasdaq 100 symbols with the lowest RSI (3) values. I rotate daily, so that's the entry point.
2. Exit: I only want to sell the symbol I bought when it's no longer among the five Nasdaq 100 symbols with the lowest RSI. This would essentially be a ranking exit strategy. Is there something like this in Wealth-Lab?
I've searched for "Symbol is Ranked Below" or "Position is no longer in Top," but unfortunately, I can't find anything.
Thanks!
I'm building a simple rotation strategy:
1. I'm buying the five Nasdaq 100 symbols with the lowest RSI (3) values. I rotate daily, so that's the entry point.
2. Exit: I only want to sell the symbol I bought when it's no longer among the five Nasdaq 100 symbols with the lowest RSI. This would essentially be a ranking exit strategy. Is there something like this in Wealth-Lab?
I've searched for "Symbol is Ranked Below" or "Position is no longer in Top," but unfortunately, I can't find anything.
Thanks!
Rename
Our built on Rotation Strategy type will do exactly that. Set the Weight indicator to lowest RSI, set number of symbols to 5, and run it on the Nasdaq 100. You’ll get exactly the behavior you described.
In short, create a new Rotation Strategy type, not a Building Block or C# one.
In short, create a new Rotation Strategy type, not a Building Block or C# one.
Mathematically, that's a perfectly correct answer.
However, if I only want to sell the symbol I bought at entry when it's no longer among, say, the 30% lowest-ranked, that doesn't help me either. Is there a way to achieve this? Ideally, I'd also like to optimize this percentage value.
Symbol is Ranked Below <30% or "Position is no longer in Top 70%"
Thanks
However, if I only want to sell the symbol I bought at entry when it's no longer among, say, the 30% lowest-ranked, that doesn't help me either. Is there a way to achieve this? Ideally, I'd also like to optimize this percentage value.
Symbol is Ranked Below <30% or "Position is no longer in Top 70%"
Thanks
For something more complex like that it would gave to be coded in C#, I’ll whip up an example tomorrow.
My bad, you can easily create this in Blocks.
So you always want to be in a position, correct? Use Blocks, use RSI(3) as the Weight Condition indicator. Set position size of 20% and Max Open Positions to 5. That will buy you the 5 stocks with the lowest RSI(3).
And you want to only sell the stock with it is no longer in the bottom 30% ranked by RSI(3)? Use the Symbol Ranking Condition on the exit block.
Example:
So you always want to be in a position, correct? Use Blocks, use RSI(3) as the Weight Condition indicator. Set position size of 20% and Max Open Positions to 5. That will buy you the 5 stocks with the lowest RSI(3).
And you want to only sell the stock with it is no longer in the bottom 30% ranked by RSI(3)? Use the Symbol Ranking Condition on the exit block.
Example:
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